Starting a nonprofit in West Virginia allows individuals to make a difference in their community by addressing social, environmental, or humanitarian issues. By forming a nonprofit, individuals can provide services and resources to people in need, build a community, and transform lives. This article explains the steps necessary to create a nonprofit in West Virginia.
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Step 1: Come up with a Mission Statement
The first step in creating a nonprofit is to identify a need or social cause and write a mission statement defining the goals and vision of the organization. Ask yourself: What change do you want to see in your community? An effective mission statement should be clear, concise, and specific and should outline the activities that the nonprofit will take on to accomplish the goals.
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Step 2: Choose a Name
Once you have defined your mission statement, the next step is to come up with a name for your nonprofit. The name should be unique, reflective of the mission statement for the organization, and it should evoke the essence of the organization's goals.
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To ensure that your name is not already in use, conduct a search of the West Virginia Secretary of State's database for already existing names or by checking the United States Trademark & Copyright Office.
Step 3: Determine if Internal Revenue Service Will Recognize Your Nonprofit
To qualify as a nonprofit for tax-exemption by the Internal Revenue Service (IRS), it must meet the following criteria: the organization must not be organized or operate for profit, and it must fall under one of the following categories: 501(c)(3) for charitable, educational, religious, scientific, literary, or other activities that fall under specified groups.
Step 4: Create a Board of Directors
The governing body of the nonprofit will consist of the board of directors, which are individuals who voluntarily serve and act as representatives of the organization. The board of directors is responsible for overseeing the management and direction of the nonprofit.
Typically, a board of directors should consist of a minimum of three members, but there is no statewide regulation mandating the size of the governable body.
Step 5: Obtain a Tax Identification Number
Nonprofits must obtain and maintain a tax identification number (TIN) for all tax-related purposes. This identifies your nonprofit as a tax-exempt organization when filing tax returns.
Step 6: Create and Submit Articles of Incorporation
In West Virginia, articles of incorporation for nonprofit organizations are submitted with the West Virginia Secretary of State. The Articles of Incorporation include the initial information regarding your nonprofit organization, such as name of the nonprofit, organization address, mission statement, summary of programs and details of who will supervise the organization.
Additionally, there should be detailed information on the nonprofit's organizational structure - board of directors, and staff, for example.
Step 7: File for Tax-Exemption Status
Once the articles of incorporation have been filed with the Secretary of State's office, the nonprofit must file federal Form 1023 or Form 1023-EZ and pay a filing fee of $600-$850. The organization must furnish a template for a charity's financial statement in accordance with the codes of the Charity Division of the state of West Virginia when filing in order to apply for tax-exempt status.
After the IRS approves the framework of your not-for-profit details along with TIN, permit the board or chairman in charge of the bylaws 60 days to collect and endorse, confirming both your decision and mark By-Laws and hand over the final handwritten variation.
Conclusion
Establishing a nonprofit is a daunting task, but it is rewarding when it is completed. Creating a nonprofit in West Virginia will open up new avenues for beneficiaries of the community while fostering personal growth on the other end. The necessary steps to create a nonprofit organization while following local, state, and federal laws have been described in this guide above. It may be arduous to accomplish as a sole individual, but with a kindred team, dedication, consistency achieveing it leads to immense possibilities for improving your inner self and also benefitting the outer community.
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